Episode Transcript
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Speaker 1 (00:00):
Well, happy, happy New Year. Welcome twenty twenty five. We
are here, Brad Smith. What's up, my man? How are you, Bud?
It is twenty twenty We got to get his mic
on it. There it is, Yeah, twenty twenty five. We
are in the studio already, and man, I am I'm
(00:20):
coming in here with excitements. I think twenty twenty five
is going to be an amazing year.
Speaker 2 (00:27):
Me too. What do you think? I agree? I love it. Man,
I'm ready. I mean, it's here, I'm fired up. Let's
get it.
Speaker 1 (00:34):
We took a week off last week as we celebrated
the holidays, which was nice. That was you know, sometimes
it's nice to have a little bit of a break.
It is nice to have a little bit of a break.
And it felt a little.
Speaker 2 (00:49):
Extended with the holidays being on Wednesdays, you know, it
kind of being in the middle of the week, so
it felt like a pretty kind of extended break. I mean,
I'm still getting stuff done, but it felt like there
was everybody was a little more scattered for more days
than maybe normal. But uh, but no, we had a
good time. I don't know what all what all j'all
have anything good going on? And travel.
Speaker 1 (01:08):
We had all of our family come in and from
Gadston and Tuscaloosa, so I got to see my in
laws and and my brother in law, and then you know,
we spent a lot of time with our our friends
and you know, hanging out and letting, the letting all
the kids kind of hang out with each other and
had a good old time. But you know, it's like,
and I really only taken like three three days off.
Speaker 2 (01:31):
Yeah, and I.
Speaker 1 (01:32):
Would say probably more like two and a half days
because I worked half day of Christmas Eve. Yeah, and
then I didn't work Christmas Day and then I didn't
work New Year's Day.
Speaker 2 (01:43):
There you go. So you know, so back in the
mix though, Yeah, back in the mix.
Speaker 1 (01:48):
We uh interesting we so, I mean, are we're starting
the year off a little bit different with our show too? Yeah,
as I was doing a thirty minute show instead of
an hour show. So I'm excited about that. Leave them
warning more right, what's that? Leave the morning more right?
You know, not not to go Okay, is it over yet?
You know, leave leave it with wanting more so sore
it's going to look, I mean, our show is gonna
(02:09):
be a little bit different. I mean today we're going
to give you our market updates, you know, real estate
and mortgage wise, and our first segment and our second segment.
You're we're gonna do our mortgage game and talk to you,
talk to you about our new listings and and and
all of that fun stuff. And yeah, we're just kind
of abbreviating the show. Yes, bringing it, tightening it, tighten
(02:32):
it up. Yeah, closer in. But twenty twenty five, I
mean we're coming in. We've already got twenty seven homes
for eight point four million excuse me, eight point seven
million under contract. So I like starting the year with
some good numbers. Now some of those are are you know,
we're doing some new construction deals and you know those
(02:56):
are going to be closing all throughout the year.
Speaker 2 (02:59):
Yeah, but it's nice to go and have them kind
of you know, building up and kind of something stock
and kind of knowing what's coming down the pike and
as other stuff starts building around us, right, so kind
of having some foundation pieces under contract or to know
what's coming. So yeah, we're kind of the same boat.
We've got a good bit of loans or starting to
get some loans, gonna close in January, but then Pipeline's
(03:20):
building up and got some new new construction loans and
stuff that like that, Like you were talking about beautiful
that are they are coming. Uh, even some of the
end of the back in the first quarter March and
a couple of April and then even one in June.
So you know, a couple of stuff, stuff like that's
going on. You know, I think it's gonna be good.
And I think you know what we've been talking about
(03:40):
and is the rate situation.
Speaker 1 (03:43):
Yeah, the spent a lot of time talking on that,
and and you.
Speaker 2 (03:47):
Know, I feel like every every week is kind of
kicking the can on when we think we're gonna get
some relief. But but I really, I really do think
that it's just kind of been in that little I
do think that the Wednesday holidays threw off the mar
It's a little bit because there was at any big
news things on the Monday, your Judy before or thurstay
or Friday right after, right, so nothing really moving the needle.
(04:07):
Everything kind of just holding holding steady more than anything.
Speaker 1 (04:11):
Just random things just going on in the world, like
the Bourbon streets. Yeah, and then and then the cyber
truck in Vegas.
Speaker 2 (04:19):
Yeah, cyber truck. You know, we had the threat a
couple of weeks ago, you know, a little bit timing
of government shut down and everything else. So just you
got these little things and and so you don't have
huge things moving the numbers. Markets. Yeah, so other news
things impacts.
Speaker 1 (04:35):
It's like the skeleton crews are are you know, at
work in the in a lot of the businesses. And
so now I guess probably next week is when people
are going to truly look back.
Speaker 2 (04:44):
To one of the economists that I was talking to said,
you know that he would see in some candlestick measures
on the bond market and a lot of that said
he just said, I think a lot of that was
was people working half days and kind of closing down
their books and stuff, you know a little earlier than normal,
not working until the bell rings, and and and said
you could you could kind of even see those patterns
(05:04):
over the last week of when stuff is going on,
maybe people not being at their desk till four o'clock
eastern or whatever for for for the stocks and markets
to close. So so I do think that you know,
we're gonna you know, hopefully by tomorrow, you know, Monday,
we'll start getting some really start seeing that where we
think everything should go and what what the numbers are
(05:24):
telling us it should be, and getting us back down
in the mid to low sixes.
Speaker 1 (05:27):
And then yeah, so sore they where they sitting at me?
Speaker 2 (05:32):
We're at seven. I mean we're back to saying seven
at the first of the number. But we're just teetering
on that. So I mean, we've got some some good
room to to get right back down in the mid
sixes to low six is pretty quick if we can
just get a couple of the couple of the just
reactions to go the right way.
Speaker 1 (05:49):
Do you think do you think? I know I was
talking to somebody this week about you know, maybe some
help or some relief and reducing the interest rates if
the government came out. I don't know if they would,
but I mean they seem to have given a lot
of money to Ukraine and other places. What if they
actually did more mortgage backed securities, Yeah, and spent more
(06:11):
money saying, you know, instead of say, add fifty or
sixty billion dollars towards mortgage backed securities, would that help
reduce interest rates?
Speaker 2 (06:22):
They would? It definitely would. The question that I still
don't know the answer to, and really, you know, we
could spend a lot of time on and do a
little more research and drawing it down and kind of
just talking it out. Is with the new administration coming
in right and with what the news is showing or
what even some of the folks that are being placed,
(06:45):
whether it's Elon Musk or others in certain positions, Elon
Musk seems to be very much not no nonsense. And
I want to cut the budget, get the budget down,
Get the budget down, Get the budget down now. One
way to do that is the short term rates that
we've talked talked about, which they're doing, and that's what
the FED funds we talk about being decreased are. But
(07:07):
when you start having the government go back to buying
big blocks of mortgage backed securities and thinking about when
the who was president when that really started, and that
was the Obama administration, And so when you start looking
at that and they're curtailing or trying to cut back
on government spending and government help, even pulling out of
(07:28):
doing some stuff with the you know, the National Board
of Education and giving more power back to the education
to students and everything else. If you start looking at
those tea leaves, I would probably be bearish on the
government buying more mortgage backed securities because it does tend
to look more like a bail out to the industry
and the rates. Sorry, that was a long answer to
(07:50):
get there, But I feel like I'm just trying to
set it. I mean, that's that's one hundred percent in
my opinion, and trying to and engaging the room as
far as what the government's going to do to help
get the rights back down, and they may start buying
back some of them, but they're ever going to get
back to the to the run they were on when
we were talking about tens of billions a quarter and
stuff like that.
Speaker 1 (08:07):
So I do think, you know, just trying to think
of different ways to help kind of alleviate some of
that pressure on the rates going up, because I mean
I do think like if we can get to like
we'll say, five seven, five to six percent, I don't
think it our market will move for sure, There's no
doubt about it. We saw it in September when the
(08:29):
rates were like super close to six maybe six one two, five,
six and a quarter, like we were ruing deals in
our contract. Yeah, it's not to say that, you know,
a seven or a seven a quarter is crazy, but
with it being so low for a decade.
Speaker 2 (08:44):
That's the big mindset. It's the retraining. Yes, it is
a completely retraining of it, and we have and that's
the good thing so that when we do see low
sixes and high fives, mid fives, everybody's like, oh, yeah,
mortgage rates are good. These are good mortgage rates, right,
and so we really need that needed that and because
for a long time, a five and a half percent
inst rate was the lowest of all time, and that
(09:06):
that hasn't been that long ago. And so it's just
going to be interesting to see. But I am curious
to see how we get there. I think some of
it's going to be kind of a wait and see approach.
I mean, you know, even with the rates up, we're
still showing, you know, appreciation for the year nationally and locally,
(09:27):
even if it's in the three and a half, if
you put it the case Shiller or f h f A,
you're show anywhere between four and a half to three
and a half percent of appreciation throughout the year. You know,
those are wins even with the rates up. So then
you start going like not to be dooming gloom or
contrary and going, hey, if we're still getting homes are
still appreciating at seven percent interest rates? What what's in
(09:51):
and in national default rates are still pretty low? What what?
What's the what's the urge to drive them down? Sure? Yeah,
and so that's not what we want. That's not what
I want. I still think we're poised to get it
to where we've been saying and quick, sooner rather than later.
And I say sooner, I mean within a couple of months,
quarter or so. But you know, you when you start
(10:14):
trying to be you know, look at the other side
of it and just put on a different hat, right,
don't don't just keep your optim not just your fuzzy
glasses on that of what you want and start looking
at it. There are some things that show that there's
some signs that maybe we don't get the relief we wanted,
just because what does the market really show that we needed?
(10:35):
And so that'll be interesting to see.
Speaker 1 (10:37):
It will be interesting I can tell you from you know,
the real estate sales side of it. As you know,
our days on market in twenty twenty four tripled from
twenty twenty three, from like literally thirteen to thirty eight.
That was a heck of a difference. We saw less
multiple offer situations, But I do think it depends on
(10:57):
the price point we've got. We've been working with a
good many buyers and getting deals we've got. We just
represented somebody moving here from Nashville that literally, I mean
they're they selling their property at such a good amount
that they are the equity that they have, They're literally
(11:17):
paying cash right on a house here.
Speaker 2 (11:21):
So just because you kind of touched on that, so
in your idea or what or what you read sees,
whatever your thoughts, obviously you want all your listenings to
be you know, short as own days as possible, but
without leaving money on the table. Right what what what
is an optimal days on market average for to say that, hey,
everything's in a pretty good balance.
Speaker 1 (11:42):
Yeah, you know, it's it's a great question. The average
right now is what thirty eight, thirty nine, forty days
on the market. Our team has been trending around thirty
four for twenty twenty four, so I mean that tells
you a month on the market and then you're looking
at another thirty to forty five days to the closing. Right, Ideally,
(12:04):
we'd love to be under contract right around day five four.
A lot of what we strategies that we do are
to be under contract by day four, day five. So
I mean, I think it depends on you know, if
you want, It depends on the price, It depends on well,
it depends on price range, It depends on the area,
the location, the house. There are so many factors that
(12:27):
go in. It's it's it's kind of hard to just throw.
Speaker 2 (12:31):
Out well, and I guess property, I guess what I
was trying to back into, not just trying to see.
But thirty eight is not bad. No, you do the
people listening for the people listening. My point is from
thirteen to thirty eight could be like, oh my gosh,
we're we're in a recession two thousand and nine.
Speaker 1 (12:49):
So it's not Literally, it was expected that the average
days on market was going to be one hundred and
one hundred and twenty days or more. And I sold
a house in seven days and when under contract in
seven days, and literally all the agents and the whole
office were like, oh my gosh, what just happened? Yeah,
how did you get it sold so quick?
Speaker 2 (13:08):
So that goes back. Really, I always wanted to make
sure that I didn't jump the shark there and say
something that wasn't true. Thirty it's still a really good market.
Speaker 1 (13:16):
Thirty eight on average, I would say thirty eight is
a healthy market.
Speaker 2 (13:19):
Okay. So that that goes back to saying kind of
where I was on the rate situation, I think it's
more of a balance market. And that's what you you know,
it becomes where it's not a blanket buyer market seller market.
It's an individual's market, that's right. It's the individual that's
got their house for sealing, the individual looking to purchase,
(13:40):
depending on what their needs are and what their situations are.
If it's a if that potential house is a buyer's
market house or a seller's market house, and so I
think that's good for all everything. That's why we're still
seeing the appreciation where we are and everything else. And
so that goes back to not to want back, what's
the rush for rates to drive there?
Speaker 1 (14:00):
Well there you go, Well, hey, I know you're probably
listening and you're wondering, like, you know, what should be
part of your game plan, whether it's financing or on
the real estate side. So, uh, you can go for
a financing standpoint, go to Bradsmith loans dot com. He's
with Cross Country Mortgage Bradsmithloans dot com. And then also
as we build a plan of action together, whether it's
(14:22):
you need to sell your home super quick or want
top dollar getting a cash offer, I mean like we
have a lot of tools in the toolbox to help you.
Speaker 2 (14:31):
You can go to.
Speaker 1 (14:32):
Gustygoulisgroup dot com or you can go to our website.
I mean, excuse me at caller number at two O
five five four two nineteen ninety six. You can call
or text that number. We are going to talk about
we've got a couple of new listings and we're going
to do our mortgage game where me and John Mounts
(14:52):
go up against each other.
Speaker 3 (14:54):
On waiting for this since last year, I no do it?
Speaker 1 (14:57):
Yeah that's right, and and yeah we're going to see
who's going to be the closest to the mortgage payment.
So Brad with Bradsmith Loans dot com, Cross Country Mortgage,
do you want to tell the rules?
Speaker 2 (15:09):
Yes, we will go back to the original format. If
anybody listen to our year our year ender, we are
year ender. We did a little bit of a different
of a higher lower but we're going to go back
to both guessing the principal and interest payment and rotating.
So Gussy's going to give us their listings and give
us the purchase price on those. I'm going to give
a potential down payment and they will both take a
(15:29):
chance at guessing the thirty year fixed mortgage payment on
the principal and interest only. No s grows, no private
mortgage insurance, no MP, none of that good stuff. Only
the principal interest, thirty year fixed. Gusty, what you got?
Speaker 1 (15:43):
All right, Well, we've got We've got a new listing.
This is over in Bascayanne Highlands. It is in the
city of Birmingham, six twenty four bar Clay Lane. This
is three bedrooms, one and a half bath. That's thirteen
hundred and twenty eight square feet on the main level,
seven hundred and twenty eight square feet finished in the basement.
(16:07):
And this one is priced at one ninety nine one
hundred and ninety nine thousand dollars. And they've got an
updated kitchen in there with granted countertops, tile backsplash. And
I'll tell you what, it's kind of hard to find
homes under two hundred thousand these days. Very very This
(16:29):
listing is courtesy of Alita Piedra, So Alita, congratulations on
your new listing.
Speaker 2 (16:35):
Nice all right, toe yeah, twenty percent down, ninety percent
down off the jump at your fixed Gusty, we'll go
back to rotating. Gusty, you will go first, Okay.
Speaker 1 (16:49):
I'm gonna go with one thousand and eleven dollars.
Speaker 2 (16:53):
One thousand and eleven dollars from Gusty. Yeah, God, it's
a little lower than that.
Speaker 4 (17:00):
I'm gonna say nine hundred and sixty dollars.
Speaker 2 (17:04):
The actual payment was one thousand and ninety one dollars.
Gusty gets round one of twenty twenty five.
Speaker 3 (17:11):
Wait to start off your year, Gusty.
Speaker 2 (17:12):
Yeah, mane order has been restored, always right in the world.
Speaker 1 (17:16):
That's right, that's right. Hey, we've got we've got another
new listing. This is over in the in the Huey
Town area, kind of like you're like Concord sunnydal Acres
Neighborhood Subdivision, Sunny Deal Acres, all right, sixty seven forty
(17:36):
Sonny Dell Drive. This one is three bedrooms and two
and a half baths, two thousand, two hundred and sixty
square feet. It is oh three bedrooms, two and a
half path that's right. Built in nineteen seventy three. It's
on a third of an acre lot. And uh, this
one is courtesy of Walker. So Walker, Walker, congratulations on
(18:03):
your new listing in Sunny Dell Acres.
Speaker 2 (18:07):
All right, so there you go, two seventy five. Yes, yeah,
ten percent down, ten percent down, mister Mounts, John Mounts first, right.
Speaker 1 (18:20):
So, by the way, granite countertops on this one. Let's go,
nice flooring, good paint.
Speaker 2 (18:27):
Letna say fourteen hundred dollars fourteen hundred from John. And
it's got a pool, a pool, yeah, above ground pool.
Speaker 1 (18:35):
Can I change my about that? Right fenced yard. I'm
just like, I'm looking at all the pictures. I'm like, dang,
that's nice.
Speaker 2 (18:43):
Good, it's a good price point.
Speaker 1 (18:45):
You said ten percent down, yeah, ten percent down to
seventy five to seventy five.
Speaker 2 (18:48):
Okay, John's at fourteen hundred. Ooh, fourteen hundred.
Speaker 3 (18:52):
That's before I knew there was a pool.
Speaker 2 (18:54):
Yeah, right, raise because that affects for payment. Yeah, good effect.
If we had if we had scros on here and insurance,
it would affect it. I'm going to go with the
sixteen fifty sixteen fifty. The actual payment was sixteen eighty eight.
Gusty dial in, Baby, he has dialed in. I'd just
(19:21):
like to say John would be losing a higher lower
as well.
Speaker 1 (19:27):
And we've also got one in the Cresslint Holiday Gardens area.
This is an Irondale eight oh six Danton Lane, eight
oh six Danton Lane. This one was built in nineteen
seventy nine. It's a two story home, five bedrooms, two
and a half baths. It's two thousand and seventy two
square feet on the main two levels, another six hundred
(19:50):
and eighty eight square feet finished in the basement. It's
got a one car garage and we're asking three hundred
one thousand dollars three hundred thousand, and I guess over
the last couple of years they have been doing some
updates to the property. Uh so three hundred thousand in Irondale.
You know, I think Irondale's gonna be making looks like
they've got a lot going on they do.
Speaker 2 (20:11):
I've actually my one of my cousins is actually I
think he's starting to build a house over in Ireland.
Is that right?
Speaker 1 (20:17):
This is his courtesy of t J Cunningham, So TJ
con congratulations on your new listing.
Speaker 2 (20:24):
There you go, all right, three hundred thousand dollar purchase
price five percent down, five percent, putting five percent down
back to gusty first principal entrants payment only, thirty year fixed,
three hundred thousand and five percent down. What you got.
Let's see.
Speaker 1 (20:38):
Oh man, oh man, I'm gonna go with.
Speaker 2 (20:49):
Nineteen eleven, nineteen eleven. You've been on the elevens. Today
is a good year?
Speaker 3 (20:56):
Eleven?
Speaker 2 (20:57):
Yeah, it was.
Speaker 3 (21:00):
I don't know.
Speaker 2 (21:03):
What happened to nineteen eleven? You know what I liked that.
Speaker 3 (21:08):
I'm gonna go. I'm gonna stick with the year the
Wright Brothers made their first flight in. What year was that?
Speaker 2 (21:13):
I don't know. I'm gonna nineteen twenty. I was gonna
say nineteen twenty.
Speaker 3 (21:16):
Four, No, no way, nineteen oh three, nineteen o three.
It was not that long ago.
Speaker 4 (21:21):
As we celebrated the it would see, it was the
seventeenth of December nineteen oh three, North Carola, KITTYHWK, North Carolina.
Speaker 1 (21:28):
ID.
Speaker 2 (21:28):
I knew the Kitty Hawk part. I I got you
to look at that. My people were impressed.
Speaker 3 (21:32):
Track question.
Speaker 4 (21:33):
They were from Dayton, Ohio. They built the thing, and
Dayton had to ship it down there. Yeah, before there
was you know, you know, trucks and stuff. Oh yeah, okay,
there we go. All right, Well after all that, it's
good knowledge. The actual payment was nineteen hundred and forty
four dollars, which was another I think that was a
weird year, forty four. I think there was some more
(21:54):
like war too.
Speaker 2 (21:56):
I think yeah, I was a slam done today. How
about that?
Speaker 1 (22:00):
Yeah, yeah, we got we need we need to check
mark in here. You need to put that on the board, John, zero.
There you go.
Speaker 3 (22:10):
I get write the zero and just keep it there,
because you know, my kids got on like you.
Speaker 2 (22:15):
Ended the year pretty strong, John, Yeah, my kids got
on a kick of watching the Old Old on Amazon.
There's the price is right from nineteen eighty three EP
the season.
Speaker 1 (22:24):
Hey we got I got a couple of vi Hey,
I got a couple of VBP buyers. I got to share.
I've got I got a couple of people looking in
the Hoover area up to three hundred and fifty thousand.
I got a couple of people living are looking in
the Edgewood area. And so yeah, hey, guess what time
it is.
Speaker 2 (22:42):
It's testimonials.
Speaker 1 (22:46):
I think I think I'll trick John was against the
clock a little bit I could John all right, well
real quick. I want to give a shout out to
Ashley because she had a great review come in It
said amazing, highly recommended. She is so knowledgeable and helpful
and always willing to be available for us to help
with oversea and inspections. She had so much great information
on different types of inspectors in handymen in the area
(23:08):
who all did great work. She also has a ton
of insight into the housing market in the area and
helped us make the best offers and decisions. So shout
out to Ashley Let's go, who had her best year
ever in twenty twenty four. So thanks for joining us
today again. Bradsmith Loans dot com, Gustiguisgroup dot com. Happy
New Year. We'll see you next time.
Speaker 3 (23:24):
Let's go, Ball Barn and Sol let's go
Well, happy, happy New Year. Welcome twenty twenty five. We
are here, Brad Smith. What's up, my man? How are you, Bud?
It is twenty twenty We got to get his mic
on it. There it is, Yeah, twenty twenty five. We
are in the studio already, and man, I am I'm
(00:20):
coming in here with excitements. I think twenty twenty five
is going to be an amazing year.
Speaker 2 (00:27):
Me too. What do you think? I agree? I love it. Man,
I'm ready. I mean, it's here, I'm fired up. Let's
get it.
Speaker 1 (00:34):
We took a week off last week as we celebrated
the holidays, which was nice. That was you know, sometimes
it's nice to have a little bit of a break.
It is nice to have a little bit of a break.
And it felt a little.
Speaker 2 (00:49):
Extended with the holidays being on Wednesdays, you know, it
kind of being in the middle of the week, so
it felt like a pretty kind of extended break. I mean,
I'm still getting stuff done, but it felt like there
was everybody was a little more scattered for more days
than maybe normal. But uh, but no, we had a
good time. I don't know what all what all j'all
have anything good going on? And travel.
Speaker 1 (01:08):
We had all of our family come in and from
Gadston and Tuscaloosa, so I got to see my in
laws and and my brother in law, and then you know,
we spent a lot of time with our our friends
and you know, hanging out and letting, the letting all
the kids kind of hang out with each other and
had a good old time. But you know, it's like,
and I really only taken like three three days off.
Speaker 2 (01:31):
Yeah, and I.
Speaker 1 (01:32):
Would say probably more like two and a half days
because I worked half day of Christmas Eve. Yeah, and
then I didn't work Christmas Day and then I didn't
work New Year's Day.
Speaker 2 (01:43):
There you go. So you know, so back in the
mix though, Yeah, back in the mix.
Speaker 1 (01:48):
We uh interesting we so, I mean, are we're starting
the year off a little bit different with our show too? Yeah,
as I was doing a thirty minute show instead of
an hour show. So I'm excited about that. Leave them
warning more right, what's that? Leave the morning more right?
You know, not not to go Okay, is it over yet?
You know, leave leave it with wanting more so sore
it's going to look, I mean, our show is gonna
(02:09):
be a little bit different. I mean today we're going
to give you our market updates, you know, real estate
and mortgage wise, and our first segment and our second segment.
You're we're gonna do our mortgage game and talk to you,
talk to you about our new listings and and and
all of that fun stuff. And yeah, we're just kind
of abbreviating the show. Yes, bringing it, tightening it, tighten
(02:32):
it up. Yeah, closer in. But twenty twenty five, I
mean we're coming in. We've already got twenty seven homes
for eight point four million excuse me, eight point seven
million under contract. So I like starting the year with
some good numbers. Now some of those are are you know,
we're doing some new construction deals and you know those
(02:56):
are going to be closing all throughout the year.
Speaker 2 (02:59):
Yeah, but it's nice to go and have them kind
of you know, building up and kind of something stock
and kind of knowing what's coming down the pike and
as other stuff starts building around us, right, so kind
of having some foundation pieces under contract or to know
what's coming. So yeah, we're kind of the same boat.
We've got a good bit of loans or starting to
get some loans, gonna close in January, but then Pipeline's
(03:20):
building up and got some new new construction loans and
stuff that like that, Like you were talking about beautiful
that are they are coming. Uh, even some of the
end of the back in the first quarter March and
a couple of April and then even one in June.
So you know, a couple of stuff, stuff like that's
going on. You know, I think it's gonna be good.
And I think you know what we've been talking about
(03:40):
and is the rate situation.
Speaker 1 (03:43):
Yeah, the spent a lot of time talking on that,
and and you.
Speaker 2 (03:47):
Know, I feel like every every week is kind of
kicking the can on when we think we're gonna get
some relief. But but I really, I really do think
that it's just kind of been in that little I
do think that the Wednesday holidays threw off the mar
It's a little bit because there was at any big
news things on the Monday, your Judy before or thurstay
or Friday right after, right, so nothing really moving the needle.
(04:07):
Everything kind of just holding holding steady more than anything.
Speaker 1 (04:11):
Just random things just going on in the world, like
the Bourbon streets. Yeah, and then and then the cyber
truck in Vegas.
Speaker 2 (04:19):
Yeah, cyber truck. You know, we had the threat a
couple of weeks ago, you know, a little bit timing
of government shut down and everything else. So just you
got these little things and and so you don't have
huge things moving the numbers. Markets. Yeah, so other news
things impacts.
Speaker 1 (04:35):
It's like the skeleton crews are are you know, at
work in the in a lot of the businesses. And
so now I guess probably next week is when people
are going to truly look back.
Speaker 2 (04:44):
To one of the economists that I was talking to said,
you know that he would see in some candlestick measures
on the bond market and a lot of that said
he just said, I think a lot of that was
was people working half days and kind of closing down
their books and stuff, you know a little earlier than normal,
not working until the bell rings, and and and said
you could you could kind of even see those patterns
(05:04):
over the last week of when stuff is going on,
maybe people not being at their desk till four o'clock
eastern or whatever for for for the stocks and markets
to close. So so I do think that you know,
we're gonna you know, hopefully by tomorrow, you know, Monday,
we'll start getting some really start seeing that where we
think everything should go and what what the numbers are
(05:24):
telling us it should be, and getting us back down
in the mid to low sixes.
Speaker 1 (05:27):
And then yeah, so sore they where they sitting at me?
Speaker 2 (05:32):
We're at seven. I mean we're back to saying seven
at the first of the number. But we're just teetering
on that. So I mean, we've got some some good
room to to get right back down in the mid
sixes to low six is pretty quick if we can
just get a couple of the couple of the just
reactions to go the right way.
Speaker 1 (05:49):
Do you think do you think? I know I was
talking to somebody this week about you know, maybe some
help or some relief and reducing the interest rates if
the government came out. I don't know if they would,
but I mean they seem to have given a lot
of money to Ukraine and other places. What if they
actually did more mortgage backed securities, Yeah, and spent more
(06:11):
money saying, you know, instead of say, add fifty or
sixty billion dollars towards mortgage backed securities, would that help
reduce interest rates?
Speaker 2 (06:22):
They would? It definitely would. The question that I still
don't know the answer to, and really, you know, we
could spend a lot of time on and do a
little more research and drawing it down and kind of
just talking it out. Is with the new administration coming
in right and with what the news is showing or
what even some of the folks that are being placed,
(06:45):
whether it's Elon Musk or others in certain positions, Elon
Musk seems to be very much not no nonsense. And
I want to cut the budget, get the budget down,
Get the budget down, Get the budget down now. One
way to do that is the short term rates that
we've talked talked about, which they're doing, and that's what
the FED funds we talk about being decreased are. But
(07:07):
when you start having the government go back to buying
big blocks of mortgage backed securities and thinking about when
the who was president when that really started, and that
was the Obama administration, And so when you start looking
at that and they're curtailing or trying to cut back
on government spending and government help, even pulling out of
(07:28):
doing some stuff with the you know, the National Board
of Education and giving more power back to the education
to students and everything else. If you start looking at
those tea leaves, I would probably be bearish on the
government buying more mortgage backed securities because it does tend
to look more like a bail out to the industry
and the rates. Sorry, that was a long answer to
(07:50):
get there, But I feel like I'm just trying to
set it. I mean, that's that's one hundred percent in
my opinion, and trying to and engaging the room as
far as what the government's going to do to help
get the rights back down, and they may start buying
back some of them, but they're ever going to get
back to the to the run they were on when
we were talking about tens of billions a quarter and
stuff like that.
Speaker 1 (08:07):
So I do think, you know, just trying to think
of different ways to help kind of alleviate some of
that pressure on the rates going up, because I mean
I do think like if we can get to like
we'll say, five seven, five to six percent, I don't
think it our market will move for sure, There's no
doubt about it. We saw it in September when the
(08:29):
rates were like super close to six maybe six one two, five,
six and a quarter, like we were ruing deals in
our contract. Yeah, it's not to say that, you know,
a seven or a seven a quarter is crazy, but
with it being so low for a decade.
Speaker 2 (08:44):
That's the big mindset. It's the retraining. Yes, it is
a completely retraining of it, and we have and that's
the good thing so that when we do see low
sixes and high fives, mid fives, everybody's like, oh, yeah,
mortgage rates are good. These are good mortgage rates, right,
and so we really need that needed that and because
for a long time, a five and a half percent
inst rate was the lowest of all time, and that
(09:06):
that hasn't been that long ago. And so it's just
going to be interesting to see. But I am curious
to see how we get there. I think some of
it's going to be kind of a wait and see approach.
I mean, you know, even with the rates up, we're
still showing, you know, appreciation for the year nationally and locally,
(09:27):
even if it's in the three and a half, if
you put it the case Shiller or f h f A,
you're show anywhere between four and a half to three
and a half percent of appreciation throughout the year. You know,
those are wins even with the rates up. So then
you start going like not to be dooming gloom or
contrary and going, hey, if we're still getting homes are
still appreciating at seven percent interest rates? What what's in
(09:51):
and in national default rates are still pretty low? What what?
What's the what's the urge to drive them down? Sure? Yeah,
and so that's not what we want. That's not what
I want. I still think we're poised to get it
to where we've been saying and quick, sooner rather than later.
And I say sooner, I mean within a couple of months,
quarter or so. But you know, you when you start
(10:14):
trying to be you know, look at the other side
of it and just put on a different hat, right,
don't don't just keep your optim not just your fuzzy
glasses on that of what you want and start looking
at it. There are some things that show that there's
some signs that maybe we don't get the relief we wanted,
just because what does the market really show that we needed?
(10:35):
And so that'll be interesting to see.
Speaker 1 (10:37):
It will be interesting I can tell you from you know,
the real estate sales side of it. As you know,
our days on market in twenty twenty four tripled from
twenty twenty three, from like literally thirteen to thirty eight.
That was a heck of a difference. We saw less
multiple offer situations, But I do think it depends on
(10:57):
the price point we've got. We've been working with a
good many buyers and getting deals we've got. We just
represented somebody moving here from Nashville that literally, I mean
they're they selling their property at such a good amount
that they are the equity that they have, They're literally
(11:17):
paying cash right on a house here.
Speaker 2 (11:21):
So just because you kind of touched on that, so
in your idea or what or what you read sees,
whatever your thoughts, obviously you want all your listenings to
be you know, short as own days as possible, but
without leaving money on the table. Right what what what
is an optimal days on market average for to say that, hey,
everything's in a pretty good balance.
Speaker 1 (11:42):
Yeah, you know, it's it's a great question. The average
right now is what thirty eight, thirty nine, forty days
on the market. Our team has been trending around thirty
four for twenty twenty four, so I mean that tells
you a month on the market and then you're looking
at another thirty to forty five days to the closing. Right, Ideally,
(12:04):
we'd love to be under contract right around day five four.
A lot of what we strategies that we do are
to be under contract by day four, day five. So
I mean, I think it depends on you know, if
you want, It depends on the price, It depends on well,
it depends on price range, It depends on the area,
the location, the house. There are so many factors that
(12:27):
go in. It's it's it's kind of hard to just throw.
Speaker 2 (12:31):
Out well, and I guess property, I guess what I
was trying to back into, not just trying to see.
But thirty eight is not bad. No, you do the
people listening for the people listening. My point is from
thirteen to thirty eight could be like, oh my gosh,
we're we're in a recession two thousand and nine.
Speaker 1 (12:49):
So it's not Literally, it was expected that the average
days on market was going to be one hundred and
one hundred and twenty days or more. And I sold
a house in seven days and when under contract in
seven days, and literally all the agents and the whole
office were like, oh my gosh, what just happened? Yeah,
how did you get it sold so quick?
Speaker 2 (13:08):
So that goes back. Really, I always wanted to make
sure that I didn't jump the shark there and say
something that wasn't true. Thirty it's still a really good market.
Speaker 1 (13:16):
Thirty eight on average, I would say thirty eight is
a healthy market.
Speaker 2 (13:19):
Okay. So that that goes back to saying kind of
where I was on the rate situation, I think it's
more of a balance market. And that's what you you know,
it becomes where it's not a blanket buyer market seller market.
It's an individual's market, that's right. It's the individual that's
got their house for sealing, the individual looking to purchase,
(13:40):
depending on what their needs are and what their situations are.
If it's a if that potential house is a buyer's
market house or a seller's market house, and so I
think that's good for all everything. That's why we're still
seeing the appreciation where we are and everything else. And
so that goes back to not to want back, what's
the rush for rates to drive there?
Speaker 1 (14:00):
Well there you go, Well, hey, I know you're probably
listening and you're wondering, like, you know, what should be
part of your game plan, whether it's financing or on
the real estate side. So, uh, you can go for
a financing standpoint, go to Bradsmith loans dot com. He's
with Cross Country Mortgage Bradsmithloans dot com. And then also
as we build a plan of action together, whether it's
(14:22):
you need to sell your home super quick or want
top dollar getting a cash offer, I mean like we
have a lot of tools in the toolbox to help you.
Speaker 2 (14:31):
You can go to.
Speaker 1 (14:32):
Gustygoulisgroup dot com or you can go to our website.
I mean, excuse me at caller number at two O
five five four two nineteen ninety six. You can call
or text that number. We are going to talk about
we've got a couple of new listings and we're going
to do our mortgage game where me and John Mounts
(14:52):
go up against each other.
Speaker 3 (14:54):
On waiting for this since last year, I no do it?
Speaker 1 (14:57):
Yeah that's right, and and yeah we're going to see
who's going to be the closest to the mortgage payment.
So Brad with Bradsmith Loans dot com, Cross Country Mortgage,
do you want to tell the rules?
Speaker 2 (15:09):
Yes, we will go back to the original format. If
anybody listen to our year our year ender, we are
year ender. We did a little bit of a different
of a higher lower but we're going to go back
to both guessing the principal and interest payment and rotating.
So Gussy's going to give us their listings and give
us the purchase price on those. I'm going to give
a potential down payment and they will both take a
(15:29):
chance at guessing the thirty year fixed mortgage payment on
the principal and interest only. No s grows, no private
mortgage insurance, no MP, none of that good stuff. Only
the principal interest, thirty year fixed. Gusty, what you got?
Speaker 1 (15:43):
All right, Well, we've got We've got a new listing.
This is over in Bascayanne Highlands. It is in the
city of Birmingham, six twenty four bar Clay Lane. This
is three bedrooms, one and a half bath. That's thirteen
hundred and twenty eight square feet on the main level,
seven hundred and twenty eight square feet finished in the basement.
(16:07):
And this one is priced at one ninety nine one
hundred and ninety nine thousand dollars. And they've got an
updated kitchen in there with granted countertops, tile backsplash. And
I'll tell you what, it's kind of hard to find
homes under two hundred thousand these days. Very very This
(16:29):
listing is courtesy of Alita Piedra, So Alita, congratulations on
your new listing.
Speaker 2 (16:35):
Nice all right, toe yeah, twenty percent down, ninety percent
down off the jump at your fixed Gusty, we'll go
back to rotating. Gusty, you will go first, Okay.
Speaker 1 (16:49):
I'm gonna go with one thousand and eleven dollars.
Speaker 2 (16:53):
One thousand and eleven dollars from Gusty. Yeah, God, it's
a little lower than that.
Speaker 4 (17:00):
I'm gonna say nine hundred and sixty dollars.
Speaker 2 (17:04):
The actual payment was one thousand and ninety one dollars.
Gusty gets round one of twenty twenty five.
Speaker 3 (17:11):
Wait to start off your year, Gusty.
Speaker 2 (17:12):
Yeah, mane order has been restored, always right in the world.
Speaker 1 (17:16):
That's right, that's right. Hey, we've got we've got another
new listing. This is over in the in the Huey
Town area, kind of like you're like Concord sunnydal Acres
Neighborhood Subdivision, Sunny Deal Acres, all right, sixty seven forty
(17:36):
Sonny Dell Drive. This one is three bedrooms and two
and a half baths, two thousand, two hundred and sixty
square feet. It is oh three bedrooms, two and a
half path that's right. Built in nineteen seventy three. It's
on a third of an acre lot. And uh, this
one is courtesy of Walker. So Walker, Walker, congratulations on
(18:03):
your new listing in Sunny Dell Acres.
Speaker 2 (18:07):
All right, so there you go, two seventy five. Yes, yeah,
ten percent down, ten percent down, mister Mounts, John Mounts first, right.
Speaker 1 (18:20):
So, by the way, granite countertops on this one. Let's go,
nice flooring, good paint.
Speaker 2 (18:27):
Letna say fourteen hundred dollars fourteen hundred from John. And
it's got a pool, a pool, yeah, above ground pool.
Speaker 1 (18:35):
Can I change my about that? Right fenced yard. I'm
just like, I'm looking at all the pictures. I'm like, dang,
that's nice.
Speaker 2 (18:43):
Good, it's a good price point.
Speaker 1 (18:45):
You said ten percent down, yeah, ten percent down to
seventy five to seventy five.
Speaker 2 (18:48):
Okay, John's at fourteen hundred. Ooh, fourteen hundred.
Speaker 3 (18:52):
That's before I knew there was a pool.
Speaker 2 (18:54):
Yeah, right, raise because that affects for payment. Yeah, good effect.
If we had if we had scros on here and insurance,
it would affect it. I'm going to go with the
sixteen fifty sixteen fifty. The actual payment was sixteen eighty eight.
Gusty dial in, Baby, he has dialed in. I'd just
(19:21):
like to say John would be losing a higher lower
as well.
Speaker 1 (19:27):
And we've also got one in the Cresslint Holiday Gardens area.
This is an Irondale eight oh six Danton Lane, eight
oh six Danton Lane. This one was built in nineteen
seventy nine. It's a two story home, five bedrooms, two
and a half baths. It's two thousand and seventy two
square feet on the main two levels, another six hundred
(19:50):
and eighty eight square feet finished in the basement. It's
got a one car garage and we're asking three hundred
one thousand dollars three hundred thousand, and I guess over
the last couple of years they have been doing some
updates to the property. Uh so three hundred thousand in Irondale.
You know, I think Irondale's gonna be making looks like
they've got a lot going on they do.
Speaker 2 (20:11):
I've actually my one of my cousins is actually I
think he's starting to build a house over in Ireland.
Is that right?
Speaker 1 (20:17):
This is his courtesy of t J Cunningham, So TJ
con congratulations on your new listing.
Speaker 2 (20:24):
There you go, all right, three hundred thousand dollar purchase
price five percent down, five percent, putting five percent down
back to gusty first principal entrants payment only, thirty year fixed,
three hundred thousand and five percent down. What you got.
Let's see.
Speaker 1 (20:38):
Oh man, oh man, I'm gonna go with.
Speaker 2 (20:49):
Nineteen eleven, nineteen eleven. You've been on the elevens. Today
is a good year?
Speaker 3 (20:56):
Eleven?
Speaker 2 (20:57):
Yeah, it was.
Speaker 3 (21:00):
I don't know.
Speaker 2 (21:03):
What happened to nineteen eleven? You know what I liked that.
Speaker 3 (21:08):
I'm gonna go. I'm gonna stick with the year the
Wright Brothers made their first flight in. What year was that?
Speaker 2 (21:13):
I don't know. I'm gonna nineteen twenty. I was gonna
say nineteen twenty.
Speaker 3 (21:16):
Four, No, no way, nineteen oh three, nineteen o three.
It was not that long ago.
Speaker 4 (21:21):
As we celebrated the it would see, it was the
seventeenth of December nineteen oh three, North Carola, KITTYHWK, North Carolina.
Speaker 1 (21:28):
ID.
Speaker 2 (21:28):
I knew the Kitty Hawk part. I I got you
to look at that. My people were impressed.
Speaker 3 (21:32):
Track question.
Speaker 4 (21:33):
They were from Dayton, Ohio. They built the thing, and
Dayton had to ship it down there. Yeah, before there
was you know, you know, trucks and stuff. Oh yeah, okay,
there we go. All right, Well after all that, it's
good knowledge. The actual payment was nineteen hundred and forty
four dollars, which was another I think that was a
weird year, forty four. I think there was some more
(21:54):
like war too.
Speaker 2 (21:56):
I think yeah, I was a slam done today. How
about that?
Speaker 1 (22:00):
Yeah, yeah, we got we need we need to check
mark in here. You need to put that on the board, John, zero.
There you go.
Speaker 3 (22:10):
I get write the zero and just keep it there,
because you know, my kids got on like you.
Speaker 2 (22:15):
Ended the year pretty strong, John, Yeah, my kids got
on a kick of watching the Old Old on Amazon.
There's the price is right from nineteen eighty three EP
the season.
Speaker 1 (22:24):
Hey we got I got a couple of vi Hey,
I got a couple of VBP buyers. I got to share.
I've got I got a couple of people looking in
the Hoover area up to three hundred and fifty thousand.
I got a couple of people living are looking in
the Edgewood area. And so yeah, hey, guess what time
it is.
Speaker 2 (22:42):
It's testimonials.
Speaker 1 (22:46):
I think I think I'll trick John was against the
clock a little bit I could John all right, well
real quick. I want to give a shout out to
Ashley because she had a great review come in It
said amazing, highly recommended. She is so knowledgeable and helpful
and always willing to be available for us to help
with oversea and inspections. She had so much great information
on different types of inspectors in handymen in the area
(23:08):
who all did great work. She also has a ton
of insight into the housing market in the area and
helped us make the best offers and decisions. So shout
out to Ashley Let's go, who had her best year
ever in twenty twenty four. So thanks for joining us
today again. Bradsmith Loans dot com, Gustiguisgroup dot com. Happy
New Year. We'll see you next time.
Speaker 3 (23:24):
Let's go, Ball Barn and Sol let's go
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